Seed / Acceleration and Start-Up Fund
Stage of the instrument:
Operational programme "Innovations and Competitiveness"
View program-
Seed / Acceleration and Start-Up Fund
- Market consultations
- Preparation of the documentation
- Application of financial intermediaries
- Review of offers and negotiations with candidates
- Selected financial intermediaries
- Funding of final recipients
€70,90M
Instrument description
Financial resources
- public resources* in the amount of EUR 70.9 million (BGN 139 million);
*including additional resources, available for support to enterprises affected by the COVID-19 crisis from the terminated Technology Transfer Fund
- private resources in the amount of EUR 5.2 million (BGN 11 million).
Goals of the instrument
- promote entrepreneurship in Bulgaria and facilitate access to financing for small and medium-sized enterprises at an early stage of development;
- set up and develop new sustainable businesses;
- implement successfully new innovation-based business ideas;
- boost activity in the entrepreneurial ecosystem in Bulgaria and promote its development;
- add value to investees.
Final recipients
Small and medium-sized enterprises at an early stage of development
Type of financing
- equity and quasi-equity investments;
- The resources are allocated to three funds managed by financial intermediaries (fund managers) selected in a procedure in accordance with the Public Procurement Act.
Source of the public resources
Operational Programme Innovation and Competitiveness 2014 — 2020 co-financed from the European Regional Development Fund
Current stage of the instrument: investment period completed on 31.12.2023
Financial intermediaries
SASF I: Innovation Capital AD
Financial resources
- public resources* in the amount of EUR 19.3 million (BGN 37.8 million);
*including BGN 10.4 million for support to enterprises affected by the COVID-19 crisis;
- private co-financing in the amount of EUR 1.8 million (BGN 3.5 million) at the fund level.
Development stage of investees
Acceleration and start-up stage
Size of individual investment
- acceleration stage: EUR 25 000 — 50 000 (BGN 50 000 — 100 000);
- start-up stage: EUR 50 000 — 1 million (BGN 100 000 — 2 million)
The acceleration programme provides strategic support, training, mentorship, etc.
Expected number of companies to be supported: 229.
SASF II: Vitosha Venture Partners OOD
Financial resources
- public resources* in the amount of EUR 25.1 million (BGN 49.2 million);
*including BGN 13.6 million for support to enterprises affected by the COVID-19 crisis;
- private co-financing in the amount of EUR 800 000 (BGN 1.5 million) at the fund level.
The development stage of investees
Acceleration and start-up stage: projects focused on technology and having a high potential for sustainable growth
Size of individual investment
- acceleration stage: EUR 15 000 — 50 000 (BGN 25 000 — 100 000);
- start-up stage: EUR 15 000 — 1 million (BGN 25 000 — 2 million)
The acceleration programme provides strategic support, training, mentorship, etc.
Expected number of companies to be supported: 125
SASF III: New Vision 3 OOD
Financial resources
- public resources* in the amount of EUR 26,4 million (BGN 51,6 million);
*Including BGN 14.3 million for supporting enterprises impacted by the Covid-19 crisis
- private co-financing in the amount of EUR 3.1 million (BGN 5.9 million) at the fund level.
Development stage of investees
Start-up stage
Size of individual investment up to EUR 1 million (BGN 2 million)
Expected number of companies to be supported: 53
Financial intermediaries
Документи
- Source of public resource
- Operational programme "Innovations and Competitiveness" ( 2014 - 2020 )
- Current stage of the instrument
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